Members of Sam Bankman-Fried’s inner circle are cooperating with federal authorities as they investigate the crypto founder and his crumbling empire.
that investigations into other entities who may have participated in the misconduct are ongoing.
In the SEC case, new court documents state that Wang “created and participated in the creation of the software code that allowed Alameda to divert FTX customer funds.” Ellison, meanwhile, “used the misappropriated FTX customer funds for Alameda’s trading activity.”that Ellison and Bankman-Fried “schemed to manipulate the price of FTT,” as a way to “prop up the value of their house of cards.”
The two new suspects’ guilty pleas provided some clarity as to the mindset of Bankman-Fried’s inner circle, which comprised not only Ellison and Wang, but also former FTX Director of Engineering Nishad Singh, former co-CEO of FTX Digital Markets Ryan Salame, and former co-CEO of Alameda Research Sam Trabucco.
The crypto startup founder initially sought to fight extradition to the U.S. in the Bahamian capital Nassau where he has lived for nearly two years, but agreed to waive his right to a hearing after spending several days in the island’s notorious Fox Hill prison. Williams, the United States Attorney for the Southern District of New York, also said in the Wednesday video statement that Bankman-Fried was “now in FBI custody.”that it will be seeking to claw back donations the company and Bankman-Fried had made to charities, political campaigns, and other causes. Bankman-Fried has also been charged with violating campaign finance laws by allegedly donating to politicians under the names of other individuals.Cyrus Farivar contributed to reporting.
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